Norway SAF-T delayed to 2020

Sun 31st Dec 2017

Norway is to introduce an on-demand mandatory Standard Audit File for Tax (‘SAF-T’) requirement for tax payers from 1 January 2020. The introduction of the electronic tax transaction data reporting had been scheduled for 2018.

SAF-T has been a voluntary format for providing the Norwegian tax authorities with details of tax transactions since 2017.

Norwegian SAF-T requirements will initially include: general ledger; accounts receivable; and accounts payable. Data will have to be provided to the tax authorities in XML format, extracted from the company’s accounting or ERP system.  It can then be filed through the public tax portal, Altinn.

All taxpayers, including non-resident VAT registered businesses, above the reporting threshold will be required to be able to prepare and submit SAF-T files.  Initially, there will be a SAF-T sales threshold of NOK 5m per annum – approximately €550k per annum.

SAF-T VAT reporting

SAF-T is an electronic XML file protocol designed to enable the efficient and consistent exchange of tax information between companies and international tax authorities. It was designed by the OECD, and has been implemented across many countries in the EU and beyond.  SAF-T submissions can include details of transactions from the: General Ledger; Purchase Ledger; Sales Ledger; Fixed Assets; Stock Movements; and Bank Accounts.

It has already been adopted in Portugal, Austria, Luxembourg, France and Lithuania. Other countries include Malaysia.

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